The lease will allow the City of Bayonne to enter into an operating agreement with a passenger ferry operator in support of ferry service between Bayonne and New York City.
Jason Berkowitz and Diana Zuniga are developing 701 Rio under B&Z Development, a company formed in 2007, with a focus on acquisitions and repositions of core commercial real estate properties in Central Texas.
CLK, LLC acquired the complex for $94 million, according to Cagan's Realty, Inc., an affiliate of Cagan Property Management Inc. of Skokie, IL, which represented CLK in the transaction.
The largest transactions were renewals by Genex totaling 50,037 square feet at 440 East Swedesford Road and Tekni-Lex's 17,219-square-foot renewal at 460 Swedesford Place. The Provident Bank also signed a lease renewal for its 3,350-square-foot operations at 460 Swedesford Road.
A recent lease reflects another trend with not only tenants expanding via existing vacancies but larger vacancies being redeveloped for multi-tenant use, given this space was originally a Best Buy and is now a Guitar Center and Spec's.